JPMorgan Chase CEO Jamie Dimon said Warren Buffett endorsed Todd Combs’ appointment to lead the Strategic Investment Group, where an initial $10 billion was set aside for direct equity investments.
At a Jan. 15, 2026, appearance before the U.S. Chamber of Commerce, Dimon recounted Buffett’s response: “If he’s going anywhere, at least he’s going to you.”
A Dec. 8, 2025, JPMorgan announcement said Combs was set to depart Berkshire Hathaway and GEICO before taking leadership of the group. His planned start was January 2026, when he was to become a special adviser to Dimon.
The group’s initial $10 billion allocation is for direct equity investments. It is part of JPMorgan’s broader Security and Resiliency Initiative, a 10-year, $1.5 trillion program that supports industries connected to economic security through investments and other financing.
Combs became a Berkshire investment manager in 2010, then took on leadership of GEICO in 2020. Buffett also called JPMorgan’s selection a “good decision.”
